Online Banking Credentials: Never Share Them!

By Todd Miller

The first time I went to a CPA, he asked me to sign my completed tax returns so he could file them. I added my phone number next to my signature because I wanted to be thorough. Whoa, did I get blasted! My CPA blacked out my number and told me, “Don’t ever talk to the IRS. If they call you, say nothing to them. Hang up and call me. That’s what you’re paying me for.”

When it comes to scammers, think of Fibre Federal Credit Union as your CPA in the above scenario. We are trying our hardest to protect you and your accounts. We monitor and investigate suspicious activity, and we need our members to do the same. It is important that you monitor your accounts, credit reports, and any financial activity, including your Social Security Account. Report to us immediately if you discover any issues.

Your Social Security Number is Probably Out There
Those who have applied to work for the government, those who have served in the military, and those who have an Equifax credit report are just some examples of the huge groups of people who have been victims of data breaches.  More likely than not, your information has been compromised, including your Social Security Number! Keep this in mind if anyone calls you and tells you your Social Security Number to gain trust, then asks for your Online Banking password.  They are not who they say they are; no financial institution will ever ask you for your Online Banking credentials. Scammers will try to keep you on the phone by saying, “I know what your password is; I have it right here in front of me. I just need you to verify it.” Hang up immediately! If the scammer claimed to be your credit union, call us immediately and let us know.

The Mobile Deposit Scam
Another way fraudsters try to obtain your Online Banking credentials is to pose as someone who wants to send you money. The scammer will use the information to deposit a fake check using Mobile Deposit, then ask you to send the money back to them via money order, person-to-person transfer, wire transfer, reloadable cards or gift cards.

If your Online Banking credentials are ever compromised, change your password immediately, then contact us so we can take steps to protect your accounts.